IADB to speed up loans to poorest nations, small businesses

The Inter-American Development Bank (IADB) would grant loans faster to Latin America's poorest countries and smallest businesses, Brazilian Planning Minister Paulo Bernardo said Wednesday.

The faster-loan decision was the most important result of the 47th annual IADB meeting, said Bernardo, who presided over the gathering.

The IADB will also appoint a commission to look at a request, made by five of the region's poorest nations -- Bolivia, Guyana, Haiti, Honduras and Nicaragua, of exempting their 3.6-billion-U.S.-dollar debt.

Bernardo said that IADB president, Luis Alberto Moreno from Colombia, was now considering the IADB meeting's final document, which called for social equality, poverty reduction and the development of small and medium-sized enterprises.

The meeting, which included meetings between technicians and experts, lasted eight days and finished on Wednesday. A total of 10,000 people from the IADB's 47 shareholder nations attended the meeting.

Source: Xinhua



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